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Full text of "Hendrix College bulletin"

H38J 



Hendrix College 

BULLETIN 



Vol. III. 



September, 1916 



No. 5 



INVESTMENT FOR A PROFIT 

By WOODROW WILSON 

UNIVf RSITY or 1LLIN0TS LIBRAIIY 



OEC 7 1916 




Published bi-monthly by Hendrix College, an educational corporation which 
has no stock and declares no dividends. Entered at the postofRce at Con- 
way, Arkansas, as second-class matter^ under Act of Congress, July 16, 1894 



INVESTING FOR A PROFIT 



President Wilson in his refreshing little booklet entitled "When a Man 
Comes to Himself" tells an interesting story of a merchant prince who 
came to see that donations to strong, permanent colleges were not gifts 
at all, but were most productive investments. Here is the story in the 
President's own language: 

"It was this fascination that had got hold upon the faculties 
of the man whom the world was afterward to know, not as a prince 
among merchants — for the world forgets merchant princes — but 
as a prince among benefactors; for beneficence breeds gratitude, 
gratitude admiration, admiration fame, and the world remembers 
its benefactors. Business, and business alone, interested him, or 
seemed to him worth while. The first time he was asked to sub- 
scribe money for a benevolent object he declined. Why should he 
subscribe? What affair would be set forward, what increase of 
efficiency would the money buy, what return would it bring in? 
Was good money to be simply given away, like water poured on a 
barren soil, to be sucked up and yield nothing? It was not until 
men who understood benevolence on its sensible, systematic, prac- 
tical, and really helpful side, explained it to him as an investment 
that his mind took hold of it and turned to it for satisfaction. He 
began to see that education was a thing of infinite usury; that 
money devoted to it would yield a singular increase to which there 
was no calculable end, an increase in perpetuity — increase of knowl- 
edge, and therefore of intelligence and efficiency, touching gen- 
eration after generation with new impulses, adding to the sum 
total of the world's fitness for affairs — an invisible but intensely 
real spiritual usury beyond reckoning, because compounded in an 
unknown ratio from age to age. Henceforward beneficence was as 
interesting to him as business — was, indeed, a sort of sublimated 
business in which money moved new forces in a commerce which 
no man could bind or limit. 

He had come to himself — to the full realization of his powers, 
the true and clear perception of what it was his mind demanded 
for its satisfaction. His faculties were consciously stretched to 
their right measure, were at last exercised at their best. He felt 
the keen zest, not of success merely, but also of honor, and was 
raised to a sort of majesty among his fellow-men, who attended 
him in death like a dead sovereign. He had died dwarfed had he 
not broken the bonds of mere money-getting; would never have 
known himself had he not learned how to spend it; and ambition 
itself could not have showed him a straighter road to fame." 

The Endowed Colleg-e Confers Immortality Upon Wealth — 

Why should I contribute to a college? Is good money to be simply 
given away like water poured on a barren soil? Am I to view gifts to a 
college as mere charity which will pass away with the using like gifts to the 
poor, or as an investment? The college must answer satisfactorily these 
(questions or cease to ask for aid. President Wilson's answer is positive that 
the endowed college (the President was speaking of endowed colleges because 
he knew well that only such institutions have an assured future), is the 
greatest field for investment known to man. The endowed college or uni- 
versity is about the only thing that gives immortality to money invested, 



whether it is the widow's mite or the wealthy's millions. Thousands of living 
examples enforce this truth. The Universities of Paris, Bologne, Heidelburg, 
and Oxford endowed in the Middle Ages, with their endowments unimpaired 
by revolutions and changes in dynasties, are pulsating with more life and 
power today than ever before. Cardinal Wolsey's money spent upon his 
court quickly disappeared, but that used for endowing Christ Church 
College has for 400 years declared annual dividends in the for-m of highly 
educated leaders of the British Empire — eminent jurists, viceroys, prime 
ministers, poets, cabinet officers, philosophers and ministers, including John 
and Charles Wesley — the bearers of world-civilization in government, law, 
science, industry and religion. 

The same great principle oi the permanent productiveness of college en- 
doments operates in America in our own Harvard, Yale, Columbia, Chicago, 
Princeton and Trinity. The railroad investments of the Vanderbilts and 
the tobacco holdings of the Dukes will undergo innumerable changes of form, 
use, ownership and control, but the Vanderbilt gifts to Vanderbilt University 
and the Dukes' investment in Trinity College will bear interest in a highly 
trained leadership to conserve for the nation the permanent values of our 
civilization as long as man lives on American soil. Hence the college meets 
squarely the issue raised in the questions asked above and challenges the 
world to show a business that approaches it in permanency or in productive- 
luiss. The college agent therefore, so far from being a solicitor of charity, is 
the accredited representative of the greatest and most permanent productive 
enterprise on earth in which man can invest. 

Liberal Investment in a College Means the Highest 
Self-Development — 

As President Wilson says, liberal investment in a college brings a man 
to himself, to the full realization of his powers, opens the windows of his 
soul, and leads to the largest self-development. He comes to understand and 
to appreciate the higher intellectual and spiritual values of life, those eternal 
soul-products of the great spirits of all ages, the accumlated heritage of the 
race, as it is preserved in science, art, literature and institutions. He comes 
to see that these invisible, eternal human values are the real wealth of the 
world, as real as stocks, bonds and lands, and infinitely more durable. Com- 
merce in these intangible spiritual goods comes to be more fascinating and 
self-developing than commerce in tangible, but perishable goods. 

College Investments Bestow Earthly Immortality 
Upon the Benefactor — 

The history of human enterprises makes it clear that investments in 
a college or university is the surest way to perpetuate one's earthly life. 
The widow's mite so invested carries one's influence to unborn generations 
and often provokes larger gifts. Rev. John Harvard's mite of 260 volumes 
and 400 pounds given in 1638, having stimulated many thousands of larger 
gifts, is still the nucleus around which the millions now invested in Harvard 
University gather. Speaking of the late Captain W. W. Martin ex-Governor 
Donaghey recently said: 

"Dividends will be declared on his investments in Hendrix 
College for countless ages to come in the form of highly trained 
Christian leaders, lawyers, doctors, educators, ministers and states- 
men. The plans and enterprises of most of us die with us or soon 
thereafter, but Hendrix College, the chief enterprise in which 
Captain Martin invested, will grow with time, receiving every year 
larger and larger gifts." 



DNIVEHSfTY OF ILLINOIS-URBANA 



3 0112 105628645 

After commenting upon the late Major Millsaps' endowment of Millsaps 
College, Dr. A. C. Millar a few days ago referred to the hundreds of well- 
trained Christian leaders whom that college had already sent out and to the 
thousands whom it would educate in the centuries to come, and added: 

"Into their lives he (Major Millsaps) pours his life. As they 
live and work for God, he lives and works thru them. As church 
and state are strengthened by their high living, he is a perpetual 
factor in these institutions." 

The principle of the perpetuity of college investments is the same 
v/hether the gift is a dollar or a million. This is as true of the hundreds 
of Methodist preachers and poor laymen who by uniting their small gifts 
have c<Witributed to the endowment of Hendrix College as it is of the 
Vanderbilts, the Dukes or Major; Millsaps, the princely founders and patrons 
cf great institutions. 

Moreover the college" or the university is about the only institution 
among men whose endowment gives earthly immortality to the name of 
the donor. Where gifts are large this is the inevitable result. The follow- 
ing are a few among American institutions that in their names confer 
immortality upon their founders: Vanderbilt University, Rice Institute, 
Tulane University, Millsaps College, Colgate University, Reed College^, 
Leland Stanford Jr. University, Vassar College, Johns Hopkins University, 
Sophie Newcomb College, Clarke University, Smith College, Drake Uni- 
versity and Wofford College. 

Comparatively small benefactions frequently immortalize people in the 
names of buildings on college campuses. Often a man thus honors his 
\7ife, a woman her husband or both their child. Such is Newcomb Hall 
at Washington-Lee where a loving wife honored her husband, and Kissam 
Hall at Vanderbilt where a dutiful son honored his mother. Thousands of 
such memorials stand on American college campuses. Frequently a college 
department or school bears the name of the one who endowed it, as for 
instance the Wharton School of Finance and Commerce at the University 
of Pennsylvania, the Sheffield Scientific School at Yale University. These 
schools are only less famous than the universities with which they are 
connected. 

Summary — 

We therefore conclude that donations to a permanent college are not 
gifts at all, but are the most permanent and productive investments known 
to man; that the college agent should be treated not as a solicitor of 
charity, but as the honored representative of the greatest business enter- 
prise on earth; that investment in a college develops and enriches the soul 
of the investor himself; that it is the surest road to fame and to the 
permanent service of mankind. 

Hendrix College — 

Hendrix College offers the most enviable opportunities for investment 
in Arkansas, such as the erection of a dormitory, science hall, gymnasium, 
infirmary, or the endowment of a department or school. Invite Dr. Thomas 
(•]• the President into conference and talk it over just as you would the 
representative of some business in which you are considering taking stock. 
They will meet you on the same high plane as would the representative 
rif a big hanking house. They will embarrass no one. Try it.